CORPORATE BUSINESS PROCESS MANAGEMENT IN THE DIGITAL ECONOMY

Abstract

The mechanism of effective corporate governance significantly expands the opportunities for attracting investment in Ukrainian business, promotes productivity and competitiveness of companies. Ukraine's course in the digital economy requires a rethinking of traditional ways of doing business and will realize the benefits of modern information technology. Today, the functioning of companies is marked by special attention to management processes. One of the key issues in corporate management is business process management. That is why the greatest interest for company analysts is the issue of effective business process management. Implementing a process approach in a company can make business more transparent and predictable, manageable, controlled. Formalization and engineering of business processes form a systematic approach to process management in terms of their maximum efficiency. In today's digitalization of the economy, integration and automation of business processes have become the main priorities for achieving efficiency and effectiveness of companies. Given the variability of the internal and external environment, companies need to adapt quickly to such changes. Business Process Management – allows companies to model, automate, execute, control, measure and optimize the flow of business. This problem can be solved with the help of integrated systems (ERP-systems), which are tools for effective management decisions, modeling and optimization of business processes. The article considers the principles and essence of ERP-systems, their need for use in corporate governance as a first step towards digitalization. It is further shown that the development of information technology and analytical systems will increasingly use artificial intelligence, and digital technologies will evolve as hybrid solutions. Digital corporation is a flat structure, decentralization of decisions, flexible business processes, real-time situational management, basic functions - analysis based on data (dynamic planning, sliding forecasting). Thus, the sooner a corporation embarks on the path of digitalization, the more effective corporate governance will be.